Company Administration - Expert Services by Parker Walsh

At Parker Walsh, we specialise in guiding businesses through challenging financial circumstances, and one of the most effective solutions we offer is Administration. This legal process can provide a lifeline for companies struggling to meet their financial obligations, allowing them to restructure and potentially emerge stronger. Our team is dedicated to providing comprehensive support throughout the administration process, ensuring that your company receives the best chance for recovery.

What is Administration?

Administration is a formal insolvency procedure that aims to rescue a struggling company while protecting it from creditors. During this process, an appointed administrator takes control of the company’s affairs, assets, and operations, with the primary goal of achieving one of three outcomes:

1. Rescue the Company: The administrator will work to save the business as a going concern, which may involve restructuring operations, reducing costs, or renegotiating debts.
2. Achieve a Better Return for Creditors: If the company cannot continue trading, the administrator will aim to realise the company’s assets and distribute the proceeds to creditors, ensuring that they receive the best possible return.
3. Sell the Company: In some cases, the administrator may identify a potential buyer for the business or its assets, facilitating a sale that can preserve jobs and ensure continuity.

Types of Company Administration

There are primarily two types of administration procedures:

1. Pre-Pack Administration: This involves arranging the sale of the business or its assets before the administration process begins. The sale is executed shortly after the administration order is made, allowing for a smoother transition and minimising disruption. This approach can often secure a better deal for the company’s assets and is a common solution for businesses that have valuable assets but are struggling financially.
2. Standard Administration: In this scenario, the administrator will assess the company’s financial position, determine the best course of action, and either restructure the business or sell its assets during the administration period. This process may take longer than a pre-pack and involves extensive negotiations with creditors and stakeholders.

How Parker Walsh Can Help

At Parker Walsh, we provide a complete range of administration services to assist businesses in distress:

1. Initial Consultation and Assessment

We start with a free consultation to understand your company’s situation. This assessment will cover financial details, assets, liabilities, and potential restructuring options. Our goal is to provide clear, actionable advice tailored to your specific circumstances.

2. Appointment of an Administrator

Once we determine that administration is the right path forward, we can assist in appointing a licensed insolvency practitioner as the administrator. This individual will take over the management of the company, acting in the best interests of creditors while exploring ways to rescue the business.

3. Business Restructuring Strategies

Our team works closely with the key stakeholders to develop restructuring plans that address the company’s financial issues. This may involve negotiating with creditors, reducing overheads, and implementing operational changes to improve efficiency and profitability.

4. Asset Management and Realisation

If the company cannot be rescued, we help the administrator in managing and realising assets. Our expertise in asset valuation and sales ensures that the company’s resources are maximised, leading to the best possible return for creditors.

5. Creditor Negotiations

Throughout the administration process, we liaise with creditors on your behalf, working to reach agreements that may alleviate financial pressure and create a viable plan for recovery.